MNTN (NYSE:MNTN) Downgraded to “Buy” Rating by Wall Street Zen

Wall Street Zen lowered shares of MNTN (NYSE:MNTN) from a strong-buy rating to a buy rating in a report issued on Saturday morning.

A number of other analysts also recently commented on the stock. Canaccord Genuity Group dropped their price target on shares of MNTN from $20.00 to $18.00 and set a “buy” rating on the stock in a research report on Tuesday, April 14th. Weiss Ratings upgraded shares of MNTN from a “sell (e+)” rating to a “sell (d)” rating in a research note on Thursday, May 28th. Raymond James Financial restated an “outperform” rating and issued a $15.00 target price on shares of MNTN in a research report on Wednesday, May 6th. Citizens Jmp lowered their price target on MNTN from $23.00 to $19.00 and set a “market outperform” rating on the stock in a research report on Wednesday, May 6th. Finally, Tigress Financial reissued a “strong-buy” rating and issued a $26.00 price objective on shares of MNTN in a research note on Wednesday, June 3rd. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $19.35.

MNTN Stock Performance

NYSE:MNTN opened at $11.15 on Friday. The stock has a market cap of $680.05 million, a price-to-earnings ratio of 15.70 and a beta of 0.71. MNTN has a 1 year low of $7.67 and a 1 year high of $25.71. The business has a fifty day moving average of $9.54 and a 200-day moving average of $9.43.

MNTN (NYSE:MNTN) last issued its quarterly earnings data on Tuesday, August 4th. The company reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.08). The company had revenue of $82.54 million for the quarter, compared to the consensus estimate of $82.34 million. MNTN had a net margin of 18.00% and a return on equity of 19.44%. MNTN’s revenue for the quarter was up 20.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.65) earnings per share. On average, equities research analysts predict that MNTN will post 0.93 EPS for the current year.

Institutional Trading of MNTN

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Mercato Management Legacy LLC acquired a new position in MNTN in the first quarter worth approximately $54,279,000. Militia Capital Management LLC acquired a new position in shares of MNTN in the 1st quarter worth $2,284,000. Manchester Financial Inc. acquired a new stake in shares of MNTN during the fourth quarter worth $2,388,000. UBS Group AG lifted its holdings in shares of MNTN by 142.1% during the fourth quarter. UBS Group AG now owns 288,267 shares of the company’s stock valued at $3,442,000 after purchasing an additional 169,218 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its position in shares of MNTN by 40.7% in the 1st quarter. Renaissance Technologies LLC now owns 646,217 shares of the company’s stock valued at $5,687,000 after purchasing an additional 187,028 shares during the period. 72.90% of the stock is owned by institutional investors and hedge funds.

About MNTN

MNTN is a software platform specializing in connected television (CTV) advertising, offering marketers the tools to plan, launch and measure streaming TV campaigns. Its platform enables brands to reach audiences across major OTT and CTV channels, helping advertisers target viewers based on demographic, behavioral and contextual data.

The company’s core product suite includes campaign management, real-time bidding and performance analytics. MNTN integrates with leading streaming services and ad exchanges, allowing clients to execute programmatic buys, track view-through conversions and optimize media spend through automated reporting dashboards.

Founded by experienced digital advertising professionals, MNTN is headquartered in Austin, Texas, and primarily serves brands and agencies across the United States and Canada.